Essex Private Wealth Management LLC cut its position in Procter & Gamble Co (NYSE:PG) by 7.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,395 shares of the company’s stock after selling 720 shares during the period. Procter & Gamble makes up 1.2% of Essex Private Wealth Management LLC’s holdings, making the stock its 19th largest position. Essex Private Wealth Management LLC’s holdings in Procter & Gamble were worth $923,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blueshift Asset Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $1,859,000. Bank OZK increased its holdings in shares of Procter & Gamble by 9.1% in the fourth quarter. Bank OZK now owns 29,009 shares of the company’s stock valued at $3,623,000 after purchasing an additional 2,429 shares during the period. Bluefin Trading LLC acquired a new stake in Procter & Gamble during the fourth quarter worth about $12,002,000. Bessemer Group Inc. grew its holdings in Procter & Gamble by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 1,676,812 shares of the company’s stock worth $209,435,000 after acquiring an additional 4,854 shares during the period. Finally, Fundamentun LLC grew its holdings in Procter & Gamble by 43.7% during the first quarter. Fundamentun LLC now owns 17,919 shares of the company’s stock worth $1,971,000 after acquiring an additional 5,450 shares during the period. 63.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE PG traded up $1.40 during midday trading on Monday, hitting $117.32. The stock had a trading volume of 3,547,687 shares, compared to its average volume of 7,504,056. The company has a market capitalization of $286.13 billion, a PE ratio of 65.30, a P/E/G ratio of 3.26 and a beta of 0.42. The stock has a 50 day simple moving average of $116.38 and a 200-day simple moving average of $119.91. Procter & Gamble Co has a 1 year low of $94.34 and a 1 year high of $128.09. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.52.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, April 17th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.04. The business had revenue of $17.21 billion for the quarter, compared to the consensus estimate of $17.29 billion. Procter & Gamble had a return on equity of 29.15% and a net margin of 7.09%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. As a group, analysts expect that Procter & Gamble Co will post 4.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were given a $0.7907 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, April 23rd. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.75. Procter & Gamble’s dividend payout ratio (DPR) is 69.91%.

Several research firms recently commented on PG. Deutsche Bank raised their target price on Procter & Gamble from $130.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Argus raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Thursday, March 26th. Jefferies Financial Group raised Procter & Gamble from a “hold” rating to a “buy” rating and dropped their target price for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Citigroup raised their target price on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, TheStreet raised Procter & Gamble from a “c+” rating to a “b” rating in a report on Tuesday, April 14th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Procter & Gamble currently has a consensus rating of “Buy” and a consensus target price of $130.31.

In related news, insider Deborah P. Majoras sold 12,589 shares of Procter & Gamble stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $122.68, for a total transaction of $1,544,418.52. Following the transaction, the insider now owns 44,948 shares in the company, valued at $5,514,220.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R. Alexandra Keith sold 7,360 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $120.00, for a total value of $883,200.00. Following the transaction, the chief executive officer now owns 44,746 shares in the company, valued at approximately $5,369,520. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,963,114 shares of company stock worth $1,067,197,986. 1.75% of the stock is currently owned by company insiders.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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